- XRP price surpasses $2.50, achieving a staggering 368% increase since November with a market cap of $137 billion.
- Now ranked as the third-largest digital asset, XRP trails only behind Bitcoin and Ethereum in market capitalization.
XRP’s recent surge in the cryptocurrency market has captured significant attention. As of the start of the new month, the price of XRP has climbed past $2.50, marking a 368% increase since November.
This dramatic rise has propelled its market capitalization to approximately $137 billion, positioning XRP as the third-largest digital asset by market cap, trailing only behind Bitcoin (BTC) and Ethereum (ETH), and surpassing Solana (SOL) and USDT by Tether.
The rapid appreciation of XRP has caught many market participants off guard, prompting a broad reevaluation of the asset within the crypto community.
Current discussions and analyses are rife with speculations about the potential future price of XRP, especially given its record high of less than $1 in 2018 and the current record-setting market capitalization levels.
— Peter Brandt (@PeterLBrandt) December 1, 2024
Peter Brandt, a trader with nearly five decades of experience in financial markets, has recently revised his outlook on XRP. Initially skeptical, Brandt’s latest projections are notably more optimistic.
He has shared a price chart of XRP which illustrates a significant breakthrough. The chart shows XRP breaking a resistance level at approximately $0.92, before making a sharp ascent. Based on this analysis, Brandt suggests that XRP’s price could potentially soar to $24 per token.
If XRP were to reach such a price level, its market capitalization would approach $1.37 trillion, positioning it as one of the world’s most valuable entities, surpassing major corporations like Tesla.
The possibility of Ripple reaching these heights would not only redefine its role in the crypto asset space but also signify a monumental shift in market dynamics, akin to past surges seen in other major cryptocurrencies.
[mcrypto id=”12299″]
XRP (Ripple) is currently trading at $2.72532 USD, marking an impressive daily increase of 18.66%. Over the past week, XRP has surged by 89.93%, and its monthly growth is a staggering 431.66%, reflecting renewed investor interest and momentum in the market. The year-to-date performance shows an increase of 343.05%, cementing XRP’s strong bullish trend.
